Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Organizations that operate in the not-for-profit sector are developing new operational models, increasing in complexity and are seeing an increasing need by financial statement users for transparency and comprehensive information. This course is meant to equip participants with the tools to identify and apply the accounting standards that are most commonly encountered by Not-for-Profit Organizations.
Participants will review the application of accounting standards, with an emphasis on areas where choice exists, that are found in Part III of the CPA Canada Handbook. These standards were drafted with the underlying premise that where transactions and circumstances are the same, there should be no difference in accounting from for-profit entities. As a result, participants will also review and analyze relevant sections of Part II of the CPA Canada Handbook, Accounting Standards for Private Enterprises (ASPE). Participants will learn what choices are available when setting policies, the impacts on disclosure, and participate in activities and exercises to strengthen the knowledge gains throughout this course.
Topics Include:
- Determination of an appropriate accounting framework for an entity
- Financial Statement Concepts
- Contributions – Revenue Recognition
- Contributions Receivable
- Inventories
- Employee Future Benefits
- Financial Instruments
- Long Lived Assets
- Reporting Controlled and Related Entities
- Allocated Expenses
- Ongoing projects and potential impact of changes
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
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Key Takeaways
By the end of this course, participants will be able to:
- Identify and analyze accounting issues specific to NPOs.
- Identify and explain where policy choices exist and their impacts on the organization.
- Determine significant issues in which disclosure is required.
- Determine which handbook and standard is relevant in a variety of circumstances.
- Interpret facts and scenarios to determine the appropriate accounting treatment for an organization.
Who Will Benefit
Professionals at all levels involved in the preparation and review of NFPO financial statements. Those involved in larger NFPOs may prefer to attend the course NFPO & Registered Charities – Accounting & Taxation. Government-controlled NFPOs must follow the Public Sector Accounting Handbook, which will not be addressed in this course.
Prerequisite(s)
Participants should be familiar with the CPA Handbook – Accounting Part II & II.
How to Access the Course
This is an online session. This course is available 24 hours a day, 7 days a week. Once registered, you can access the material at any time.
However, you will only have access to the course for 90 days after REGISTRATION.
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To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.